The shoppers turned up in large numbers in the malls and departmental stores on the last weekend ahead of Christmas with the weather conditions becoming favourable to pull more and more people, giving a good prospect to the holiday season for its solid finish.
The crowd started building at stores in New York, Chicago, Philadelphia and Los Angeles by mid-day on Saturday. The shoppers also turned up in good numbers due to attractive offers and discounts offered by the stores.
While some were attracted toward good deals offered by the stores, others said the lower oil and gas prices encouraged them to spend more and more on shopping.
Meanwhile, retailers are looking forward for big sales this weekend in order to make up the disappointing performance in shopping season so far, including the “Black Friday,” the day after Thanksgiving that is deemed as the busiest shopping day of the year.
ShopperTrak, which surveys traffic at bricks-and-mortar stores, is expecting a “Super Saturday” and hopes to surpass Black Friday as the top revenue-generating day this year.
The National Retail Federation report shows retail sales surged an unadjusted 3.2 percent last month. The figures showed it trending below its forecast for 4.1 percent during holiday season in November and December combined. Meanwhile, its chief economist said that the targets were still achievable as a strong December is likely to pick up the slack.
Meanwhile, some market analysts have cautioned that retailers are pushing sales at the expense of margins. Many of them have launched big discounts since the Halloween and also have continued them all the way through.